CEO Tim Cook was unusually open during Apple’s earnings call about plans for the future.
During his scripted remarks, he told analysts that Apple has amazing new hardware and software services in development, but they won’t be introduced until the fall and throughout 2014.
He was asked about it again during the Q&A with analysts, and repeated himself saying, “We will have some really great stuff in the fall and all across 2014.”
This is a total buzz kill.
Analysts had been projecting new iPhones in June and July.
The first day of fall is September 22. If Cook was being literal, that would be mean Apple goes almost an entire year without a new product. In the technology industry, that’s a long, long time. Apple’s last major product launch event was in October of 2012 for the iPad Mini and new iMacs.
Without new products, Apple’s sales are going to sag.
The company is forecasting midpoint revenue of $34.5 billion for the June quarter. If this is accurate, it means Apple’s revenue will be down on a year-over-year basis.
Apple was a growth story for the last decade. It is not anymore. At least not until those new products hit the market.